Terry Smith - Fundsmith Investment Services 13F Activity & Position Changes (Q1 2026)

According to the SEC 13F filed on May 15, 2026, the Fundsmith Investment Services portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2026, the filing reported:

New Buys - None reported

Increases - Apple Inc., Amazon.com, Inc., TJX Companies, Inc. (The), Taiwan Semiconductor Manufactur

Reductions - Automatic Data Processing, Inc., Church & Dwight Company, Inc., Fortinet, Inc., Alphabet Inc., Home Depot, Inc. (The), and 13 more

Complete Exits - Intuit Inc., Nike, Inc.

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2026	AAPL Apple Inc.	Apple Inc.	Buy	+1,578	+260.8%	$554.02K	2,183
Q1 2026	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-11,011	-0.8%	$269.68M	1,327,309
Q1 2026	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+1,274	+178.2%	$414.25K	1,989
Q1 2026	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Sell	-23,080	-0.9%	$242.37M	2,597,159
Q1 2026	FTNT Fortinet, Inc.	Fortinet, Inc.	Sell	-158,444	-8.7%	$135.64M	1,659,789
Q1 2026	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-122,839	-9.8%	$326.20M	1,134,379
Q1 2026	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Sell	-4,736	-50.8%	$1.51M	4,585
Q1 2026	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell	-72,273	-13.0%	$270.60M	481,586
Q1 2026	INTU Intuit Inc.	Intuit Inc.	Sell - Position Exit	-176,360	-100.0%	$0.00	-
Q1 2026	MAR Marriott International	Marriott International	Sell	-119,126	-9.0%	$392.20M	1,199,125
Q1 2026	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-54,496	-10.4%	$268.35M	469,040
Q1 2026	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-4,547	-0.7%	$245.79M	664,002
Q1 2026	MTD Mettler-Toledo International, I	Mettler-Toledo International, I	Sell	-16,977	-7.1%	$280.94M	222,759
Q1 2026	NKE Nike, Inc.	Nike, Inc.	Sell - Position Exit	-2,226,357	-100.0%	$0.00	-
Q1 2026	OTIS Otis Worldwide Corporation	Otis Worldwide Corporation	Sell	-284,726	-22.8%	$74.52M	966,787
Q1 2026	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-16,429	-0.9%	$254.31M	1,760,681
Q1 2026	PM Philip Morris International Inc	Philip Morris International Inc	Sell	-414,082	-19.8%	$277.39M	1,677,719
Q1 2026	SYK Stryker Corporation	Stryker Corporation	Sell	-121,557	-9.3%	$389.66M	1,185,850
Q1 2026	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Buy	+2,058	+178.2%	$513.12K	3,213
Q1 2026	TSM Taiwan Semiconductor Manufactur	Taiwan Semiconductor Manufactur	Buy	+2,248	+371.6%	$964.17K	2,853
Q1 2026	TXN Texas Instruments Incorporated	Texas Instruments Incorporated	Sell	-5,582	-0.6%	$168.32M	866,997
Q1 2026	V Visa Inc.	Visa Inc.	Sell	-54,069	-5.0%	$309.93M	1,025,445
Q1 2026	WAT Waters Corporation	Waters Corporation	Sell	-49,354	-4.3%	$326.64M	1,096,855
Q1 2026	ZTS Zoetis Inc.	Zoetis Inc.	Sell	-86,267	-7.2%	$132.41M	1,120,147